ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
Frequently asked questions
Why do healthcare professionals need specialist accountants rather than general practitioners?
Healthcare professionals often have multiple income streams, including NHS salaries, private fees, locum payments and practice profits. A specialist accountant understands how these interact for tax purposes, how to claim allowable expenses correctly, and how to structure affairs efficiently. General accountants may overlook medical-specific reliefs, leading to higher tax bills or compliance errors that could be avoided with focused expertise.
What qualifications should I look for when choosing a healthcare accountant?
Look for membership of recognised bodies such as ACCA, ICAEW or AAT. These credentials confirm that the professional has met rigorous training and ethical standards. You should also check experience with healthcare clients, familiarity with HMRC requirements, and whether the firm can handle VAT, Corporation Tax, Self Assessment and payroll. Verified listings on AccountingFirms make these checks easier.
Can an accountant help with HMRC enquiries or late filing penalties?
Yes. Qualified accountants regularly represent clients in correspondence and enquiries raised by HMRC. They can prepare responses, negotiate payment plans, and where appropriate, appeal against penalties. Having a professional act on your behalf reduces the risk of escalating issues and ensures that your position is presented accurately and within statutory deadlines.
How does VAT affect private medical practices and clinics?
Many healthcare services are exempt from VAT, but cosmetic treatments, some diagnostic services and certain product sales may be taxable. An accountant can review your turnover, determine which activities fall within exempt or standard-rated categories, and advise on registration thresholds. Correct VAT treatment prevents unexpected liabilities and ensures returns submitted to HMRC are accurate.
What is the benefit of using AccountingFirms to compare providers?
AccountingFirms allows you to browse qualified professionals by specialism and location, then compare them on credentials, services and client feedback. The directory was established in 2019 and built by ICAEW and ACCA accountants, so listings reflect genuine professional standards. This saves time and helps you choose a firm that matches your healthcare accounting needs.
Do I need an accountant for Self Assessment if I am a locum or sole practitioner?
While Self Assessment can be completed independently, a qualified accountant ensures all allowable expenses are claimed, income is correctly reported, and deadlines are met. They can also advise on payments on account, tax planning and record-keeping. For locums and sole practitioners with variable income, professional support often reduces tax liability and avoids penalties.
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